Waterways Leisure's ₹585 cr IPO opens June 23 with muted GMP; 101x P/E sparks caution
Cordelia Cruises operator Waterways Leisure Tourism launches ₹585 crore fresh-issue IPO June 23 at ₹769-808 band, lot size 18. Grey market premium muted at ₹11 (1.36%). Swastika flags Neutral on aggressive 101x P/E valuation, though India cruise tourism tailwinds remain intact.
Waterways Leisure Tourism, operator of Cordelia Cruises, opens ₹585 crore fresh-issue IPO on June 23 at ₹769-808 band. GMP muted at 1.36%. Swastika rates Neutral citing aggressive 101x P/E despite India cruise tourism growth tailwinds.